LONDON (dpa-AFX) - Euromoney Institutional Investor Plc. (ERM.L), in its trading update for the period from 1 October 2019 to 31 December 2019, said that trading continues to be in line with the Board's expectations. The full year outlook is unchanged.
Underlying revenue was flat year-on-year, reflecting a continuation of recent trends, with growth in the Pricing and Data & Market Intelligence segments offset by ongoing challenges in Asset Management.
In the Pricing segment underlying revenue grew 3% supported by a 9% increase in subscriptions offset by some softness in events. Within the Data & Market Intelligence segment, underlying revenue grew by 3%.
In Asset Management underlying revenue declined 6%, impacted by the previously disclosed weakness in subscriptions, which declined 9%.
Euromoney has previously announced that it is conducting a strategic review of Asset Management, which is made up of Institutional Investor, BCA Research and NDR. The strategic review is ongoing.
The company will publish interim results for the six month period on 21 May 2020.
Copyright RTT News/dpa-AFX
© 2020 AFX News
